Rethinking Invention: Cognition and the Economics of Technological Creativity
AbstractEconomists have typically not devoted much attention to the act of invention. This paper attempts to redress this situation by exploring a form of cognition, analogical transfer, which is thought by some researchers to lie at the heart of successful creativity. An analogical transfer is said to have occurred when information and experiences from one known situation is retrieved and utilized in the search for the solution to an entirely different situation. This paper shows how such analogical thought can give rise to a theoretical framework, in which disparate factors pertaining to technological creativity can be pieced together to yield an explanation of the level of inventive output experienced.
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Bibliographic InfoPaper provided by The University of Melbourne in its series Department of Economics - Working Papers Series with number 861.
Length: 44 pages
Date of creation: 2002
Date of revision:
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invention; technological change; technological creativity; problem solving; learning.;
Other versions of this item:
- Magee, Gary B., 2005. "Rethinking invention: cognition and the economics of technological creativity," Journal of Economic Behavior & Organization, Elsevier, vol. 57(1), pages 29-48, May.
- O31 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
- D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information
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